Rocky Brands (NASDAQ:RCKY) Price Target Lowered to $25.00 at Robert W. Baird

Rocky Brands (NASDAQ:RCKY - Get Free Report) had its price objective decreased by stock analysts at Robert W. Baird from $32.00 to $25.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the textile maker's stock. Robert W. Baird's target price would suggest a potential upside of 22.91% from the company's current price.

Rocky Brands Stock Down 26.6 %

Rocky Brands stock traded down $7.37 during midday trading on Thursday, reaching $20.34. The stock had a trading volume of 149,847 shares, compared to its average volume of 39,207. Rocky Brands has a 12 month low of $11.77 and a 12 month high of $40.14. The company has a market capitalization of $150.98 million, a P/E ratio of 11.24 and a beta of 2.08. The company has a fifty day moving average price of $30.16 and a two-hundred day moving average price of $32.33. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its earnings results on Tuesday, July 30th. The textile maker reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.07. Rocky Brands had a return on equity of 8.85% and a net margin of 3.21%. The business had revenue of $98.26 million during the quarter.

Institutional Trading of Rocky Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Rocky Brands by 59.5% during the 1st quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker's stock valued at $97,000 after purchasing an additional 1,332 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Rocky Brands by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker's stock valued at $100,000 after purchasing an additional 618 shares during the last quarter. SG Americas Securities LLC acquired a new position in Rocky Brands during the 2nd quarter valued at about $149,000. Inspire Advisors LLC acquired a new position in Rocky Brands during the 3rd quarter valued at about $339,000. Finally, Yarger Wealth Strategies LLC boosted its stake in Rocky Brands by 7.7% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker's stock valued at $360,000 after purchasing an additional 692 shares during the last quarter. 75.06% of the stock is owned by institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.